#None #digital identity #funding #Evrotrust

Evrotrust Secures Significant Funding for Expansion

Evrotrust, a pioneer in the field of digital identity and Qualified Trust Service Provider (QTSP), has recently announced a significant funding round of €6.6 million. The investment comes from TCEE Fund IV, which is managed by 3TS Capital Partners, emphasizing the company's mission to broaden its reach throughout Europe.

The latest funding will primarily accelerate Evrotrust's expansion in the DACH (Germany, Austria, and Switzerland) and CEE (Central and Eastern Europe) regions. The investment highlights Evrotrust's commitment to providing compliant digital identity solutions in line with the updated EU regulations under eIDAS 2.0.

Evrotrust offers a comprehensive suite of digital identity services that conforms to eIDAS regulations. These services include remote identity verification (KYC/KYB), qualified electronic signatures (QES), and qualified electronic timestamps, among others. Currently, the company supports over 2 million users across 61 nationalities and collaborates with over 200 enterprises in 11 countries. This robust framework is designed to ensure the integrity and security of digital transactions across Europe.

The European Commission's eIDAS 2.0 regulation, which took effect on May 20, 2024, mandates the development of interoperable EU Digital Identity Wallets, aimed at unifying and streamlining identity verification processes. As digital identity continues to solidify its role as a foundational aspect of Europe's digital landscape, Evrotrust is poised to play a vital part in this evolution.

Konstantin Bezuhanov, CEO of Evrotrust, expressed enthusiasm regarding the funding, stating, "Our primary objective is to minimize the complexities involved in identity verification for both individuals and organizations. We aim to make mundane procedures like establishing a bank account or signing a contract seamless." With this investment, in conjunction with innovative solutions, Evrotrust is strategically positioned to enhance user experiences in Germany, Austria, and across the CEE region.

Evrotrust’s state-of-the-art technology enables automated onboarding and signing processes that adhere strictly to KYC (Know Your Customer), AML (Anti-Money Laundering), and eIDAS 2.0 standards. This unique capability allows enterprises to streamline identity verification and digital signing onto a single platform, maximizing efficiency and compliance.

On a broader scale, the European Union’s Digital Decade initiative aims for an ambitious target: an 80% adoption rate of the EUDI Wallets by 2030. This trend indicates an urgent and expanding market opportunity for digital identity solutions. The projected growth for e-signatures is also noteworthy, expected to surge from €2.33 billion in 2025 to a staggering €23.05 billion by 2032.

In summary, Evrotrust's recent funding round not only underscores its strategic growth plans but also highlights the increasing importance of secure, efficient digital identity solutions in today's digital economy. As regulations evolve and user expectations shift, companies like Evrotrust are crucial in facilitating smooth transitions for businesses and governments aiming to improve digital channels. With continued investment and innovation, Evrotrust is set to lead the charge in the digital identity space, enhancing accessibility and security for all users throughout Europe.

For more information about Evrotrust and its services, please visit www.evrotrust.com.